[waveslider]

Hello Dr. - welcome to the board.

I wonder what your experience is with clients using a set daily profit and loss targets.

I believe it is good for a trader to quit trading once they have reached a certain losing point on the day, to avoid a downward spiral -revenge trade scenario.

However, I have not formulated an opinion on profit goals.

My profit goal for the market I trade (YM) is approximately 1/3 the daily range. Today I pulled out 78 pt., a good day -more than double my normal target. But as I was sitting up 32 pts. on the day I was considering calling it quits. In this case that would have been a mistake.

I would appreciate your professional opinion, Thanks.